Let’s Talk: How Communication Affects Contract Design

A-Tier
Journal: Journal of the European Economic Association
Year: 2016
Volume: 14
Issue: 4
Pages: 943-974

Score contribution per author:

1.341 = (α=2.01 / 3 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We study experimentally how communication changes the effectiveness of contract types when sellers choose unenforceable quality after a possible cost shock. Communication potentially removes conflicting perceptions that may otherwise plague flexible contracts. Indeed, we find that introducing free-form communication sharply reverses an advantage of rigid contracts in favor of flexible contracts, which then deliver much higher earnings. Control treatments that avoid selection effects reveal a strong parallel shift from rigid to flexible. Chat content analysis identifies clarification of post-shock transfers, promises, and personal rapport as key correlates of high earnings, with clarification working only in conjunction with flexible contracts. A communication channel restricted to clarifying transfer plans also favors use of flexible contracts, but mildly compared to chat.

Technical Details

RePEc Handle
repec:oup:jeurec:v:14:y:2016:i:4:p:943-974.
Journal Field
General
Author Count
3
Added to Database
2026-01-24